Hi all,

In today's bulletin: Record unemployment in Philippines, 1MDB-linked trial closes, Philippines anti-terror Bill stirs fears, Singapore retail sales dive, Malaysia unveils new stimulus package and more.

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UNEMPLOYMENT IN THE PHILIPPINES REACHES RECORD HIGH OF 17.7%

The Philippines reported its highest-ever unemployment rate on Friday, after the Covid-19 pandemic shuttered companies and wiped out millions of jobs, Philippines correspondent Raul Dancel reports.

According to the Philippine Statistics Authority, joblessness soared to 17.7 per cent in April, about a month into a sweeping lockdown that saw the country closing off its borders and imposing strict shelter-at-home restrictions.

National Statistician Claire Dennis Mapa said that at least 7.3 million Filipinos had no jobs in April.

In Singapore, the number of unemployed residents could potentially rise from around 73,000 last year to more than 100,000 this year.

See also:

Thailand may lose 2 million jobs due to coronavirus: Planning agency

Australia unemployment rate rises to record high, with 594,300 jobs lost in coronavirus shock

1MDB-LINKED CORRUPTION TRIAL CLOSES WITH DEFENCE SAYING NAJIB WAS VICTIM OF SCAM

The corruption trial of Malaysia's former premier Najib Razak relating to funds misappropriated from SRC International, a former subsidiary of 1MDB, has finally closed with the judge setting July 28 for a verdict, Malaysia correspondent Hazlin Hassan writes. The trial began in April last year.

The defence has pinned the blame on elusive financier Low Taek Jho, otherwise known as Jho Low, calling Najib a "victim of a scam".

Led by Shafee Abdullah - himself on trial for money-laundering and tax evasion - the defence has maintained that Mr Low mismanaged Mr Najib's accounts.

Defence lawyers presented their final rebuttal of the prosecution's charge this week from Monday, bringing to an end the closely watched trial.

Najib faces a total of 42 counts of corruption, money-laundering and abuse of power spanning five different cases tied to 1MDB.

Read also:

Ex-Coutts banker on trial over US$700 million transfer from 1MDB to Jho Low

Malaysia's extraordinary financial scandal

PHILIPPINES' ANTI-TERROR BILL STIRS FEARS ITS POWERS CAN BE MISUSED TO CRACK DOWN ON DISSENT

The proposed law expands the definition of terrorism and bolsters police powers of surveillance, arrest and detention, Philippines correspondent Raul Dancel reports.

It allows security forces to wiretap suspects, arrest them without warrants and hold them without charges for at least 14 days. It is a retreat into the "dark days" of martial law, said former Supreme Court chief justice Maria Lourdes Sereno.

The anti-terror Bill came about after over 1,000 Islamic State in Iraq and Syria-linked militants seized Marawi city, in southern Philippines, in May 2017. They fought security forces to a stalemate for six months. By the time the fighting ended, half of Marawi lay in ruins, and tens of thousands of families were displaced from their homes.

As a result of that debacle, security officials pressed Congress for a tougher law against terrorists.

See also:

'Near impunity' for drug war killings in Philippines: UN report

Philippine president Duterte's drug war an 'utter failure', says vice-president

SINGAPORE RETAIL SALES SEE WORST-EVER 40.5% PLUNGE IN APRIL

Singapore's retail sales in April suffered their biggest drop since 1986 when records began as circuit breaker measures to fight the coronavirus pandemic kicked in.

Takings at the till plunged by 40.5 per cent year on year, according to data released by the Department of Statistics on Friday. Excluding motor vehicles, retail sales fell 32.8 per cent.

This was a much steeper fall than the 13.3 per cent decline in March and makes for 15 straight months that retail sales have dropped.

Sellers of discretionary items were hit the hardest, with the sales of watches and jewellery dropping 87.8 per cent. Retailers of wearing apparel and footwear also saw takings drop 85.3 per cent.

See also:

Singapore non-oil exports expected to shrink by 1% to 4%

Singapore factory output up 13% in April, with biomedical boost

MALAYSIA UNVEILS S$11.4b STIMULUS PACKAGE AMID RISING UNEMPLOYMENT

Malaysia has launched a fourth economic stimulus package valued at RM35 billion (S$11.4 billion), aimed largely at checking unemployment, which has hit a 10-year high, Malaysia Bureau Chief Shannon Teoh reports.

Prime Minister Muhyiddin Yassin said on Friday that the plan includes RM10 billion in direct fiscal injection, of which half will be spent on extending existing wage subsidies from three months to six months.

Another RM4 billion will be allocated to benefit workers, including for upskilling programmes and to improve the welfare of freelancers.

Prior to this new "national economic recovery plan" dubbed Penjana, the government had already rolled out RM260 billion in rescue packages to cushion the economic blow of the coronavirus pandemic, with RM35 billion coming directly from the Treasury.

Read also:

Malaysia sees biggest daily jump in coronavirus cases since pandemic began

IN OTHER NEWS

WEARABLE DEVICE FOR COVID-19 CONTACT TRACING MAY BE ISSUED TO EVERYONE IN SINGAPORE: Singapore said that if the proposed wearable device works well in contact tracing, the Government may distribute it to everyone in the country, which it said will be more inclusive and ensure all Singaporeans will be protected.

THAI MASSAGE PARLOURS REOPEN BUT NOT BUSINESS AS USUAL: Customers have to now register before a massage, either by writing down their names and phone numbers or scanning the government's QR code with their phones. Because of social distancing measures, the massage parlours are only allowed half their capacity with chairs placed 1.5 metres apart.

US TO REVISE CHINESE PASSENGER AIRLINE BAN AFTER BEIJING MOVE: The US Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said. On Thursday China said it would allow in more foreign carriers, shortly after Washington said it planned to bar Chinese passenger airlines from flying to the United States.

That's it for today, thanks for reading and have a great weekend.

Tom